Tax Deduction of Tution Fees.
Tax Deduction on Tuition Fees under Section 80C Section 80 C of the Income Tax Act has provisions for tax deductions on tuition/education fees paid by a parent towards educating his/her children. Taxpayers can avail of deductions up to Rs 1.5 lakh under Section 80C with other investments also eligible for this rebate. Parents can claim the tuition fee paid by them towards their children’s education as deductions, ensuring that they save TAX even if they don’t have other tax-saving instruments. Parents can claim the actual fee paid by them in a particular financial year. Tuition Fees Eligibility for Tax Deduction under Section 80C Claimant Eligibility: Only parents or legal guardians can claim this deduction, which also extends to fees paid for adopted children. Individual Assessee: This deduction is exclusively available to individual taxpayers. Hindu Undivided Families (HUFs) and corporations are not eligible for this deduction. Number of Children: Each parent can claim this deduct